The inaugural dinner of the McCann Tastemakers Council took place yesterday, 17th September, in the McCann New York offices. Against a view of midtown Manhattan in late summer sunset, tastemakers, innovators and marketers in the world of luxury gathered for an evening of dinner and lively conversation on the most pertinent topics in contemporary luxury. Over three hours, the council explored everything from the meaning of American luxury (and how it is defining itself against European heritage-led luxury) to the threats and opportunities of digital media in luxury marketing. The topic that perhaps attracted the most spirited discussion was the Millennial affluent consumer, and how he or she is different from affluent consumers of older generations. It is a well-established fact that Millennials are seeking unique experiences, more than beautiful possessions, but how this is transposed in the luxury segment is less clear.
As some guests opted for traditional champagne and others took a chance on an experimental cocktail of gin, birch sap and elderflower bitters one thing became clear: there is no one size fits all. Luxury brands need to be savvy about the different types of luxury clients they attract and cater to each of them differently, while remaining true to their core ethos.
Please look out for the second Tastemakers Report, which will compile our guests expert opinions into a fresh and provocative perspective for brands looking to stay one step ahead of the most important shifts in contemporary luxury.